Consumer power climbs to new heights

With the rise of nonhuman intermediaries ― recommendation engines, voice-powered search, smart-home devices, autonomous purchasing programs and other artificial intelligence-powered systems, machines are now empowering consumers with new levels of intelligence. These algorithms have begun playing an increasingly important role by augmenting consumers with the information they need, influencing their decisions and ultimately helping them become better humans.

This new human-algorithm alliance has turned the business-to-consumer dynamic on its head and is challenging brands to connect more intelligently and humanly with customers. In markets of the future, this will have a profound impact on how traditional business models evolve, presenting both opportunities and risks to today’s companies.

Trying to influence humans alone will no longer be enough. Brands will also need to influence the algorithms. Every industry and business will need to become ‘B2HM’ ― business to human and machine ― and the top brands will be the ones who successfully earn a trusted reputation with both customers and their AI assistants.

What’s the meaning of a brand when consumers are indifferent to whether the brands, they use today are still around tomorrow? Or when most of them are not easily impressed with new products and services? Or when they’d choose to buy a brand recommended by Siri, Alexa or Hey Google, despite never having heard of it?

Cognizant has released a Customer of the Future report, based on a global survey of 6,500 consumers in the U.S. (32%), Europe (32%), Asia-Pacific (32%) and the Middle East (4%), to explore the new expectations and perceptions of consumers in the age of algorithms and how businesses can rise above. The research uncovered detailed insight into the future AI-augmented customer, revealing the following key trends in Southeast Asia:

• Consumers are shifting their trust from brands to intelligent machines:Most SEA respondents...